OPEN-SOURCE SCRIPT
RSI + MA Trend Strategy
Uses a simple moving average to identify trend direction.
Uses RSI (Relative Strength Index) for overbought/oversold or momentum confirmation.
Enters long when price is above its MA (indicating bullish trend) and RSI is above a threshold (e.g., 55).
Enters short when price is below its MA and RSI is below a threshold (e.g., 45).
Uses RSI (Relative Strength Index) for overbought/oversold or momentum confirmation.
Enters long when price is above its MA (indicating bullish trend) and RSI is above a threshold (e.g., 55).
Enters short when price is below its MA and RSI is below a threshold (e.g., 45).
Open-source script
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in publication is governed by House rules. You can favorite it to use it on a chart.
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